EFG Hermes is seeking regulatory approval to open a permanent, full-service office in New York, to serve institutional clients in the United States. The expansion to better serve US-based clients comes as EFG Hermes continues to grow its footprint in frontier and other high-potential markets worldwide.

The company has engaged Wall Street veteran Karim Baghdady as its chief executive officer of EFG Hermes USA. Baghdady, who joined EFG Hermes on September 1, 2016 was most recently the Director of International Sales at CI Capital, where he led that firm's presence in North America.